Digital Transactions Authoritative, insightful and timely information for payments professionals
Convinced that banks are ready to upgrade ATM capability to sell more products and services, San Jose, Calif.-based Infonox Inc. says it is piloting marketing-savvy machines with unnamed clients and plans to have at least one commercial deployment in progress within six months. “There's a dramatic shift in the banking …
Read More »POS Debit Card Usage Continues To Grow, Star Survey Says
Debit cards continue to find favor with consumers for point-of-sale purchases, results of the latest annual payments survey by First Data Corp.'s Star electronic funds transfer network shows. And recent security breaches involving PIN-based debit cards don't yet seem to have dented PIN debit's popularity. According to Star's 2005/2006 Consumer …
Read More »Tech-Savvy Scheme Loots Millions from Montreal Debit Accounts
Canadian police arrested 10 people Tuesday they say used rigged card terminals to intercept PINs as cardholders entered them at the point of sale as part of a scheme in which they stole $4 million (Canadian) from 18,000 customer bank accounts. More arrests are expected, according to the authorities. In …
Read More »ATM Surcharges, Number of Banks Assessing Them, Rise Again
More banks than ever now levy surcharges on ATM transactions performed by non-customers, and the fee is now higher than ever, according to new data released this week by Bankrate.com, a service of Bankrate Inc. The average ATM surcharge is now $1.60, up from $1.54 in the fall of 2005, …
Read More »Citigroup Will Brand 5,500 7-Eleven ATMs in Surcharge-Free Deal
In a move that quintuples the number of ATMs in its network, Citigroup Inc. today announced it will brand machines in 5,500 7-Eleven Inc. convenience stores in 31 states. The ATMs, which will bear the Citibank brand, will allow customers to withdraw cash without incurring surcharges, a feature the bank …
Read More »ATM Roundup: BofA’s New Mall Machines; Triton Shipments up 21%
Simon Property Group Inc. announced today it will install some 360 ATMs in 160 shopping malls it manages in 31 states. The machines, which are owned and operated by Bank of America, will be live by June in the malls' common areas, said Simon, the nation's largest owner and manager …
Read More »Losses Could Top $1 Billion from Debit Card Hack, Hurting PIN Debit
The widening damage from the unfolding debit card hacking incident is challenging the conventional wisdom that PIN-based debit cards are inherently more secure than credit cards, which rely on signatures?though it still doesn't make a case for chip cards. That's according to one expert whose latest estimates are that this …
Read More »As Banks Reissue Debit Cards, Experts Warn of More Compromises
More banks are reissuing debit cards as suspect transactions pop up throughout the United States and other countries, according to media reports this week. Investigators believe many of the transactions could be related to a security breach at a merchant facility in California that happened late last year, but the …
Read More »Why Info Touch Sees Benefits in 40-ATM Pilot with Cardtronics
The idea of merging financial-services kiosks with ATMs will be tested this spring when Info Touch Technologies Corp., operator of the TIO kiosk network, and ATM deployer Cardtronics Inc. begin driving some 40 machines specially fitted to dispense cash withdrawals and perform kiosk functions such as bill payments. The machines …
Read More »Cardtronics Reports Lower Net in Part on Faster Retail Deployment
Cardtronics Inc., which operates the largest network of ATMs in the U.S., reported a net loss of $900,000 for the fourth quarter of 2005 along with a full-year drop in net of $3.7 million, to $900,000. The results came on increases of 12.6% and 39.5% in revenue, respectively, for the …
Read More »